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Saturday, 06 August 22
SUMITOMO Q1 PROFIT RISES 45% ON STRONGER PRICES OF COAL, NICKEL - REUTERS
Japanese trading house Sumitomo Corp 8053.T said on Wednesday its net profit for the April-June quarter rose 45% to a record thanks to higher prices of commodities such as coal and nickel as well as strong demand for steel products in North America.
Net profit for the three months climbed to a record 155.2 billion yen ($1.2 billion) from 107.3 billion yen a year earlier, but the company stuck to its annual profit forecast of 370 billion yen.
“Earnings from both resource and non-resource businesses have been stronger than anticipated earlier,” Sumitomo Chief Financial Officer Reiji Morooka told a news conference, adding that it may raise its profit guidance.
“On the other hand, the risk of a global economic slowdown and other uncertainties are increasing, and we will closely examine full-year forecasts going forward,” he said.
Sumitomo expects nickel production at its Ambatovy project in Madagascar to achieve its initial target of about 40,000 tonnes this financial year to March 31, after producing about 8,000 tonnes in the first quarter.
Increased oil and gas drilling activities in North America have also supported its steel pipe business in the April-June quarter and the company sees robust demand in pipes continuing through next March, Morooka said.
Asked whether Sumitomo expects any change in its business strategy in China amid rising tensions between China and Taiwan as well as China and the United States following U.S. House Speaker Nancy Pelosi’s visit to Taiwan, Morooka said no change is planned.
“It has become a major issue for us to think of how to deal with the heightened geopolitical risks triggered by not only the U.S.-China issue but also the Russia-Ukraine conflict,” Morooka said.
“We will pay close attention to the (U.S.-China) situation with high interest,” he said.
Source: Reuters
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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- The University of Queensland
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Australian Coal Association
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
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